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Technical Outlook:

Nifty (Spot):

Nifty is in a strong uptrend but it witnessed minor profit booking in the 15250-15300 supply area where 15000 is an immediate psychological support level and if it trades below 15000 mark then 14870/14725 will be the next support level. SGX Nifty is suggesting a positive opening where 15200 will be an immediate resistance level where we can again see selling pressure while if Nifty manages to trade above 15200 level then we can expect further strength towards the 15300 level.

Banknifty (Spot):

Banknifty is showing some fatigue around the 36500 level after a stellar run where 35500 is an immediate support level; below this, we can expect some profit booking towards 34500/33800 levels. 36250 will be an immediate hurdle after positive opening while 36500-36650 is a critical resistance area; above this, we can expect a further rally towards 37000/37500 levels.

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